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RossLarter
Nov 25, 2020 9:09 AM

Cup & Handle on MTN Long

MTN GROUP LTDJSE

Description

A Cup and Handle pattern has formed on JSE:MTN.

The Cup with Handle is a bullish continuation pattern and as its name implies, there are two parts to the pattern: the cup and the handle. The cup forms after an advance and looks like a bowl or rounding bottom. As the cup is completed, a trading range develops on the right-hand side and the handle is formed. A subsequent breakout from the handle's trading range signals a continuation of the prior advance.

I will look to enter long if it breaks above the high of 11 Nov with a optimistic target at the resistance around the 8800 level.
Comments
scholtzflip
It looks like the cup has fallen on the floor in Nigeria.
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